ANZ: comments on AUD/USD

According to analysts at ANZ, “recent price action in the $0.9480/0.9800 area is now seen to be an interim correction within the steep decline from $1.0585 with AUD at risk of extending its losses towards the $0.9205/0.9250 area or even $0.9060/70”.

The specialists warn, however, that “the fall from $0.9800 could form the last leg within the fall from $1.0585. A close above $0.9480 could trigger some pronounced squeeze”.